Ive noticed that a lot of the crypto make what the traders call cup and handle patterns its worth looking it up and reading about it. Bitcoin has been making long term cup and handle patterns for years. I learned about the trading pattern years ago when i was trading litecoin. Someone posted into the chat that bitcoin is making a cup and handle then everyone dumped litecoin and bought bitcoin. That when i looked it up so i wouldn't get caught like that again.
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yeah, the problem with tracking patterns is that it doesn't account for people. People are unpredictable and often trade with emotion. For example, you think because of the pattern, it would go up, but it doesn't because Forbes makes a post that bitcoin is going to tank.
Yes they have been trying to talk down bitcoin for years now. The way i look at the cup and handle pattern is that so many of the big money traders follow it that it becomes a self-fulfilling prophecy.